Found time to peruse the history of these new guys, and I say...

Found time to peruse the history of these new guys, and I say innocent until proven guilty camp (contradiction with my 'guilty to proven innocent' view of ASX management i know). If ASX management aren't all cut from the same cloth, they soon pick up the same bad habits, being a clean skin is no better. When you are working with a marginal project, selling optimistic BS to keep raising capital and kicking the can down the road is the job, while hoping commodity prices or an exploration discovery hits a home run so all is forgiven and forgotten (though it usually isn't as per some disgruntled VRC holders on the thread).

The VRC connection back years makes clear Matthews and Vorster are both long-term Kabunga chums. That in itself isn't a crime, the country's C-Suite all work of an old mates, old colleagues you know and trust network. Much better the devil you know right. I've heard a few stories about Kabunga I won;t repeat, colourful character and serial project promoter no doubt, but who in West Perth hasn't had to kiss a lot of frogs before finding their Prince? Point is, Kabanga has a lot of experience, knows rates these two from years working together highly enough to invite them into LIN's big league.

Vorster I heard of from HAS, where my warnings this last year or so have been largely ignored. Wasn;t surprised to see him leave as interim CEO after only 8 months, it was paying the bills but flogging a dead horse is neither satisfying or career enhancing. One month later he appears with his old employer on competitor LIN's board... coincidence not me thinks. Mathews resigns from VRC where Kabunga is chairman just over a month ago and reappears as executive on LIN's board... coincidence not me thinks. Kabunga gets two well experienced professionals to strengthen the team and help out Stephens who seems to have done a fantastic job so far, importantly two guys he knows he can work with and trust (yes, and to do he what he wants i'm sure).

VRC's Tanzanian graphite projects are dogs, suffered from years of global over production, Chinese price control and slowed for critical years by Tanzanian sovereign risk. I'm guessing Matthews did his hopeful best he was paid to do, graphite price boom is always just around the corner right, flogging a dead horse usually look more obvious in hindsight . Holders who hung onto a Tanzanian graphite dream had themselves to blame... wrong projects, wring timing. Regardless that Matthews was CEO while shares slid inexorably to 1c since 6c late 2016 when he joined, I'm sure he learned a hell of a lot over the journey.

Mathews was the CEo at MZI funding and developing the Keysbrook mineral sand mine. That turned out a disaster owing to poor recoveries of light leucoxene (TiO2) grains in high slime mineral sand deposit (went broke before they managed to sort out technical issues). Clearly Matthews is a finance guy not metallurgist or engineer, so while MZI did go into administration it was the fault of the technical team not him (it was then bought out of admin and problems solved eventually by Doral). Again, what he learned over four years finalize the DFS, successfully funding and developing the project is valuable. In many ways so was the failure, because we learn more from failures than successes. Probably the same for Vorster's 6 years at BCI, a lot more learnings than successes it has to be said...

I'm a fan of the old saying 'good deposits make good managers'. Poor deposits are a poison chalice, tough luck. Good deposits will make you look good unless you stuff them up, and i'm not convinced Matthews was responsible for stuffing up Keysbrook, which wasn;t a good deposit to start with. Both these blokes look to have jumped ship specifically for this opportunity to work with a great deposit, the real deal, and not just another cynical hopium exercise in mining the market. Kabanga would have made the offers, but I doubt it took much time to consider accepting a seat at the table of a permitted, fast track to production world class mine with funding a given (at what price though?). Possible longer term takeover triggers for bags of PR's they will no doubt pick up over the journey is also nice carrot...

Kabanga actually, finally, has a tiger by the tail and a chance at greatness as well as reward if he plays his cards right (ie don;t scare off critically important insto's with dodgy games). At first look it smelled of cronyism, but he trusts and knows these guys have the experience, drive and will work well with Stephens to develop project best it can. The opportunity to be on the board developing a world class deposit are few and far between, could have picked almost anyone. Think of Pilbara or Orecobre a decade ago during lithium's bear market for example, and history didn't do the guys on those boards any financial or reputational damage did it...

GLTAH